以太坊在清算担忧中保持弹性

尽管近期出现调整，以太坊 (ETH) 仍反弹至 3,000 美元以上。然而，ETH 目前很容易遭到清算，多个价格水平都构成风险。 Aave Protocol 的抵押品面临低于 2,880.20 美元的风险，导致 17,167 ETH 面临清算风险。同样，MakerDAO 面临着其金库的风险敞口，其清算水平低于 2,700 美元。 DeFi Saver 和中心化交易交易所继续面临清算，但去中心化金融（DeFi）和流动质押代币提供了一些针对系统性清算的保护。以太坊交易者目前青睐多头头寸，ETHUSDT 永续期货的未平仓头寸不断增加，而外汇储备却在下降。然而，ETH 可能面临来自鲸鱼和近期 ETH 预挖的走势的抛售压力。

Ethereum Resilience Amidst Liquidation Concerns

以太坊在清算担忧中的弹性

Despite recent market volatility, Ethereum (ETH) has demonstrated resilience, effortlessly surpassing the $3,000 mark after experiencing corrective movements in preceding weeks. However, the token now finds itself in a precarious position, hovering within hundreds of dollars of several ETH liquidation levels.

尽管最近市场波动较大，但以太坊 (ETH) 表现出了韧性，在经历了前几周的调整走势后，毫不费力地突破了 3,000 美元大关。然而，该代币现在发现自己处于不稳定的境地，徘徊在几个 ETH 清算水平的数百美元范围内。

As of Tuesday, ETH traded around $3,070.30, remaining within its established tight range. Minimal trading volume of approximately $13 million over a 24-hour period has been sufficient to maintain ETH within its accustomed range. Despite precautionary measures and automated mechanisms, liquidations continue to occur across protocols and centralized exchanges.

截至周二，ETH 交易价格约为 3,070.30 美元，仍处于既定的窄幅区间内。 24 小时内约 1300 万美元的最低交易量足以将 ETH 维持在其惯常范围内。尽管采取了预防措施和自动化机制，但跨协议和中心化交易所的清算仍在继续发生。

However, certain price levels pose greater risk than others. Decentralized protocols currently benefit from adequate support at numerous key price levels, but specific clusters are susceptible to relatively modest corrections.

然而，某些价格水平会比其他价格水平带来更大的风险。去中心化协议目前受益于许多关键价格水平的充分支持，但特定集群容易受到相对适度的调整。

Over the past month, Ethereum has fluctuated effortlessly between $2,900 and $3,300, occasionally exhibiting significant short-term volatility.

过去一个月，以太坊在 2,900 美元至 3,300 美元之间轻松波动，偶尔会出现大幅短期波动。

Aave Protocol Vulnerability to Liquidation Below $2,880.20

Aave 协议的清算漏洞低于 2,880.20 美元

On the Aave protocol, a substantial and imminent liquidation cluster now exists close to current price levels. Other vaults and DeFi services hold collateral at considerably lower ETH levels, accumulated over the past years.

在 Aave 协议上，现在存在接近当前价格水平的大量且迫在眉睫的清算集群。其他金库和 DeFi 服务持有过去几年积累的相当低的 ETH 水平的抵押品。

At the time of writing, approximately 17,167 ETH face the risk of liquidation if prices fall below the collateral level of $2,880.20.

截至撰写本文时，如果价格跌破 2,880.20 美元的抵押品水平，大约 17,167 个 ETH 将面临清算风险。

In addition to Aave, Maker DAO also faces ETH risk through its vaults, exhibiting a series of liquidation levels below $2,700.

除了 Aave 之外，Maker DAO 还通过其金库面临 ETH 风险，出现了一系列低于 2,700 美元的清算水平。

A solitary wallet holding 9,232.50 ETH is exposed to liquidation risk at $2,714.92. These vulnerable wallets and vaults frequently utilize DeFi Saver in an attempt to receive alerts and avert liquidations.

持有 9,232.50 ETH 的单独钱包面临 2,714.92 美元的清算风险。这些易受攻击的钱包和金库经常利用 DeFi Saver 来尝试接收警报并避免清算。

Centralized Trading Liquidations

集中交易清算

In centralized trading, ETH liquidations remain relatively subdued, with the majority of liquidations occurring in short positions over the past day.

在中心化交易中，ETH 清算仍然相对较少，过去一天大部分清算发生在空头头寸中。

DeFi and Liquid Staking Tokens Support Stability

DeFi 和 Liquid Stake 代币支持稳定性

One of the early risks associated with DeFi involved severe liquidations, which stripped many traders of their collateral. Presently, the Ethereum ecosystem is bolstered by Liquid Staking Tokens, which frequently diverge from the price of ETH on exchanges, potentially safeguarding the ecosystem from liquidations.

与 DeFi 相关的早期风险之一涉及严重的清算，这导致许多交易者失去了抵押品。目前，以太坊生态系统得到了 Liquid Stake 代币的支持，这些代币经常与交易所的 ETH 价格存在差异，这可能会保护生态系统免遭清算。

Recent market events have also fallen short of previous episodes, which witnessed daily liquidations exceeding $1 billion.

最近的市场事件也没有达到之前的水平，之前的每日清算额超过 10 亿美元。

The Ethereum decentralized ecosystem is experiencing a resurgence in 2024, with numerous projects holding over $54 billion in notional value and generating $2.78 million in fees daily. Approximately $25 million in value enters Ethereum DeFi on a daily basis.

以太坊去中心化生态系统将在 2024 年复苏，众多项目的名义价值超过 540 亿美元，每天产生 278 万美元的费用。每天约有 2500 万美元的价值进入以太坊 DeFi。

ETH Traders Favor Long Positions

ETH 交易者青睐多头头寸

Short liquidations have diminished on Binance in recent days. However, open interest in ETHUSDT perpetual futures is expanding.

最近几天，币安的空头清算有所减少。然而，ETHUSDT永续期货的未平仓合约正在扩大。

Open interest increased significantly within a day, reaching $2.1 billion in notional value. Long positions dominated, accounting for over 77.93% of all open interest, while market takers primarily purchased ETH.

未平仓合约一天内大幅增加，名义价值达到 21 亿美元。多头头寸占主导地位，占所有持仓量的 77.93% 以上，而市场接受者主要购买 ETH。

Exchange reserves for ETH also indicate interest in withdrawals and purchases. Over the past 6-8 weeks, ETH reserves have gradually declined, dropping below $13 billion in value. Peak selling occurred above $4,000, and since then, there have been indications of accumulation.

ETH 的外汇储备也表明了提款和购买的兴趣。过去 6-8 周，ETH 储备逐渐下降，价值跌至 130 亿美元以下。抛售高峰出现在 4,000 美元以上，此后出现了吸筹迹象。

Ethereum continues to be utilized in re-staking. The Eigen protocol has grown and consolidated its holdings, surpassing $15 billion in total value locked. Physical ETH tokens remain essential for staking, vaults, and collateral wallets.

以太坊继续用于重新质押。 Eigen 协议不断扩大并巩固其持有量，锁定的总价值超过 150 亿美元。实物 ETH 代币对于质押、金库和抵押钱包仍然至关重要。

Potential Reversal Due to Whale Activity

鲸鱼活动导致的潜在逆转

On the other hand, the trend may reverse, as some whales may consider selling portions of their ETH holdings.

另一方面，趋势可能会逆转，因为一些鲸鱼可能会考虑出售其持有的部分 ETH。

Recently, analysts observed one of the older pre-mine addresses transferring ETH for the first time in almost nine years.

最近，分析师观察到一个较旧的预挖地址近九年来首次转移 ETH。

The Ethereum ecosystem remains in a delicate balance, with risks and opportunities coexisting. Close monitoring of liquidation levels, protocol health, and whale activity will be crucial for navigating the evolving market landscape.

以太坊生态保持着微妙的平衡，风险与机遇并存。密切监控清算水平、协议健康状况和鲸鱼活动对于驾驭不断变化的市场格局至关重要。